Rob discusses the current state of the UK housing market and its potential implications for the economy, focussing upon the decrease in mortgage borrowing and the challenges faced by homebuyers due to higher interest rates. Rob also mentions that lending is tightening, which could have negative effects on the economy and references comments from Karen Ward, an advisor to the chancellor, who predicts that central banks may push Western economies into recession to combat inflation.
"There is more gloom to come with central banks set to push Western economies into recession in order to be sure of winning the battle against inflation."
"We're in for something that I think is going to be like Armageddon. I don't say that lightly, and I don't want that to happen."
"The screw is being tightened by Bank of England, probably the government, and other things behind the scenes."
"It's going to be a time where a lot of people will be affected at the same time. It's going to be a great opportunity to quite literally cash in on everything that's going on."
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ABOUT THE HOST
Rob Smallbone is the author of the Amazon best-seller Buy-To-Let: How To Get Started as well as 101 Top Property Tips and Property FAQ’s.
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
WHERE TO FIND US